We at 'Shreyash Insurance Brokers Limited (SIBPL)' believe in complete need analysis of the customer and suggest products that are in their best interest. We have tie up with all the major life companies so the customer has various options. We believe in long term relationships and give highest importance to policy servicing related issues. Whenever you need us you shall find us eager to help you.We are there with you all the way.

Life Insurance is a contract in which an insurance company agrees to pay money to a designated beneficiary upon the death of the policy holder. In exchange, the policyholder pays a regular consideration, known as the insurance premiums. The purpose of life insurance is to provide financial support to those who survive the policyholder, such as family members or business partners. Apart from the usual essentials of a valid contract, insurance contracts are subject to two additional principles viz. Principles of Utmost Good Faith and Principle of Insurable Interest.

TYPES OF LIFE INSURANCE PRODUCTS
Life insurance products are usually referred to as plans of insurance. These plans have two basic elements. One is the Death cover providing for the benefit being paid on the death of the insured person within a specified period. The other is the survival benefit providing for the benefit being paid on survival of a specified period.

TERM ASSURANCE PLAN

Plans of insurance that provide only death cover are called Term Assurance Plans. If the insured does not die within the specified period no payment is made under a term assurance plan. Since the policyholder does not get anything on maturity these types of plans are the cheapest. These types of plan are taken generally by those who:

Want to safe guard any loan taken. Are aware about the importance of insurance but cannot pay a very high premium. Do not consider the returns from insurance investment as very high and go for other instruments of investment.

WHOLE LIFE

In a whole life plan the Sum Assured becomes payable only on death whenever it may occur. But unlike a term assurance plan, some payment will be made at sometime. Though the sum assured is payable only at the time of death, some insurers pay the SA when the life assured completes 100 years.

ENDOWMENT PLAN
In an endowment plan, the SA is payable on survival to the end of the term or on earlier death. Premium is normally payable till SA becomes payable, that is, till a claim arises. Premium can also be made payable for a shorter period.

MONEY BACK PLAN

A variant of Endowment Plan also known as Anticipated Endowment Plan. As the name suggests some percentage of SA is paid to the policyholder during the term of the policy at regular intervals. These payments are known as Survival Benefits or money back. This ensures liquidity of money.

ANNUITIES
Annuities are practically the same as pensions. They provide regular periodical payments (usually every month) to employees who have retired. They are paid as long as he is alive. Sometimes the pension is also paid to the dependents after the pensioner's death.

UNIT LINKED INSURANCE PLANS
The common objection to life insurance is that returns are not good. With lowering of interest rates and rising inflation the returns from insurance products are also shrinking. ULIP is the answer to them. The bottom line in this type of plan is that the customer decides as to where his money is to be invested and he only decides the exposure of his funds in different money markets. The risk and reward both lies with the customer. This plan is more transparent in nature and the customer knows exactly as to where his money is going and he is also aware of the various charges that are being deducted from the premium paid by him.

There are various kinds of funds for e.g. Secured, Balanced, Growth, Equity etc.depending on different patterns of investment in equities, debt and liquid assets.